Morning Charts 08/18/2017 SPX

This is from a severely directionally challenged individual, one who is wrong more than right. There is some merit to his thought tho and worth having this warning noted. Gartman: "This May Be One Of The Most Important Days In The Future Of Equity Markets". When some serious daily and weekly MA's (like 2345 SPX) get in danger then we can start talking about important days and not be fear mongering. I've liked down, we're getting down, but have a healthy fear of the Fed and Team Total Control - they don't allow significant corrections without cause.

On to the lie - 

SPX Daily - down goes the 50! Will it now become resistance? 16 and the round number are the next stop if weakness continues. Daily 200ma at 2345 is the biggest bogey of them all right now if ur feeling the pain and willing to look that far south.

SPX 30m - Well, do we finally have a new pattern? Is the burgundy channel that seemed to last most of the summer finally gone away? 

More to come below.

Have a good day.


GL and GB!

Morning Charts 08/17/2017 SPX

Not much going on other than everything is collapsing, but the markets would never let you know that.


On to the lie - 

SPX 30m - 

More to come below.

Have a good day.


GL and GB!

Morning Charts 08/16/2017 SPX

Well let's find the truth - Dick's CEO: "The Retail Industry Is In Panic Mode" and  Trump Lashes Out At Bezos: "Amazon Is Doing Great Damage To Retailers; Hurting Cities And Jobs" might be two articles on the path to finding it. Or you can ask WMT their feelings on the subject. STB has good friend in major retail and he says it sucks. Bottom line - the 'recovery' is a lie. Consumer debt tapped out again. No jobs. Reality will eventually come to roost.

On to the lie -

SPX 30m - Looks like 76 has a chance to be the next stop. I'd lean to consolidation between 66 and 80 coming up. They gotta get that carrot back out in front of the mule.

 

More to come below.


Have a good day.


GL and GB!

Morning Charts 08/15/2017 SPX

No NK - No fear. Move along and ignore the civil war they are trying to start. It's all a bunch of BS. 80% of us are sane and sober (most of the time). 'they' want the war, not us.


On to the lie - 

SPX 30m - Not surprised they are gonna pop it back thru 66 resistance this morning. 77 is the next R area. Not sure if to follow blue or burgundy channel but parts of both should be in play. I personally hate price at these levels, but as we have learned you can't go against the total control system. Sadly we will all - as in most everyone - see THE moment to exit. The rush for the gates is going to be tremendous when it happens.

More to come below.

Have a good day.


GL and GB!

Morning Charts 08/14/2017 SPX

And awaaaaay we gooooo - VIX Tumbles, S&P Futures, Global Stocks Rebound Sharply As Korea Fears Fade. This is not over quite yet, but they sure milked it for all they could so far.


On to the lie -

SPX 30m -Maybe this will become that backtest of 66 I was surprised we did not get? Maybe the new blue channel forms with a lower slope, which would indicate slight rollover/topping possibilities.

 

More to come below.

Have a good day.

GL and GB.

Open Weekend Post 08/12-13/2017

You know the drill. Share the love and the knowledge. 

If you see it, share it.  I will as well. 

Have a good weekend.  

GL and GB!

Morning Charts 08/11/2017 SPX

See this Central Banks Are Hiding The True Price Of Risk
and this Are Internal Market Cracks Turning Into Chasms?, and then see the chart below (which really is not the 'bad' chart).

On to the lie -

SPX Daily - Pretty easy to see what could happen if it lets go. 2400 is basic, below that it has real potential to get ugly.

 

More to come below.

Have a good day.

GL and GB!

Morning Charts 08/10/2017 SPX /es

I guess all the crowing about war has the market spooked a bit. Don't fall for it. Pay attention to what they are trying to do. Remember, they need cover for the coming market failure. The age old STB question - Which comes first - the crash or the war?

On to the lie -

SPX 30m - What happened to the carrot? I'm somewhat dumbfounded that they allowed such a target to be missed. Sub 55 it gets interesting. 40, 32, 20, 07 and 00 are the support points.

SPX 2hr - Big time support is going to crack this morning. 61 and 47 ma's are big time here.

More to come below.

Have a good day.

GL and GB!